Credit rating agency, Brickwork Ratings has assigned ‘BBB-’ rating to TVS Electronics’ Long Term cash credit / WCDL/ PCFC/BG worth Rs 48.40 crore and long term loans worth 20.00 crore. Credit facilities with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instruments carry moderate credit risk.
The rating agency has also assigned ‘A3’ rating to company’s short term LC / FLC/ ILC worth Rs 53.20 crore. Credit facilities with this rating are considered to have moderate degree of safety regarding timely servicing of financial obligations. Such instrument carry moderate credit risk as compared to instruments rated in two higher categories.
TVS Electronics is a part of the 100-year-old, $4 Billion TVS Group - one of India’s oldest & most trusted business groups and the first among companies in Asia (outside Japan) to win the prestigious Deming Award for Quality.
